TanzaniteOne Discovers 12,100carat tanzanite stone; It is the third-largest high quality stone

TanzaniteOne Limited said it has unearthed the third-largest high quality gemstone ever mined in the decade that it has been operating.

March 02, 2011

TanzaniteOne Limited said it has unearthed the third-largest high quality gemstone ever mined in the decade that it has been operating.

The 12,100-carat tanzanite stone, weighing 2.42 kg, was discovered at the firm's main tanzanite project in the Simanjiro district of Tanzania.

It is believed to be the third-largest tanzanite ever found, and the stone is undergoing analysis, including colour and clarity grading.

The stone is likely to be cut into smaller, but nonetheless large stones, at the firm's own cutting facility at the TanzaniteOne mine site.

TanzaniteOne's CEO Bernard Olivier said, "Whilst we await the results of expert analysis on this significant discovery, we will continue to realise the potential of our mine, which produced a total of $15.8 million in sales for 2010."

Meanwhile, in separate news, TanzaniteOne said it achieved its annual production target of 2.2 million carats in 2010, up from 1.9 million carats in 2009.

The average grade was 59 carats produced per tonne, compared with 51 carats per tonne in 2009.

The company is also continuing to hold talk with the Tanzanian government over a ban on the export of rough tanzanite weighing more than five carats which came into effect on December 31.

» Tanzanite is not particularly hard, having a value of 6.5 to 7 on the Mohs scale which means you need to protect the stone &#8211; earrings and pendants or neckpieces are ideal, and cocktail rings rather than rings such as an engagement ring that is worn every day.

» The richer and more vivid the blue, the more valuable the stone.

» Tiffany's made a recommendation to rename the gemstone as the correct gemmological name 'blue Zoisite' was felt to be too close to the English word 'suicide'.

» In November 2002 Tanzanite was named a December birthstone, the only stone to be added to the birthstone list since 1912.

» Since the discovery of Tanzanite, a new tradition has evolved whereby Maasai chiefs give Tanzanite to their wives at the birth of a baby. The gift of Tanzanite at birth uniquely symbolizes new beginnings and pays tribute to those who have shown the greatest of loves by becoming a parent.

The unique, intense and brilliant blue of Tanzanite make this stone similar to sapphire; and yet its value is still good value partly due to the fact that the stone is not as hard as sapphire and partly due to the fact that the existing mining conditions in Tanzania still prevail. The prevailing mining techniques are still the archaic methods that were used 200 years ago. Eventually open cast mining will dominate, making the recouping of the gemstones that much more expensive. It is estimated that supplies of Tanzanite will last only another 10 &#8211; 15 or so years.